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Alternative Market Briefing

Co-head of Citadel's global equities group to leave hedge fund

Monday, August 27, 2012

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Jeff Runnfeldt
Bailey McCann, Opalesque New York: Jeff Runnfeldt, co-head of Citadel LLC’s global equities group, is leaving after a decade at the hedge fund, according to a Bloomberg report of the matter. Runnfeldt has been in the position since 2009 when Citadel started its equity fund. Citadel is a multi-billion dollar hedge fund run by Ken Griffin.

The departure of Runnfeldt follows an announcement earlier this month that Chris Boas, former global head of credit at the firm, who left last year is starting his own fund. Boas’ Longwood Credit Partners LLP will seek to profit from price differences between debt securities and is scheduled to start in the first quarter of next year, according to an account of the matter. For his part, Runnfeldt intends to retire.

Citadel started breaking up its securities unit in 2011, but so far intends to keep its electronic trading and market making business despite a failed attempt to start a full fledged investment bank. The fund was also recently in the news for losses it took as part of the glitch-riddled Facebook IPO in which the firm bought and sold $3.8bn in Facebook stock, according to a Reuters ......................

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